Defined Benefit Account definition

Defined Benefit Account means the account established within the Pension Fund pursuant to Section 12.01(a).
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Defined Benefit Account means the assets in the Fund other than those assets contained in the Defined Contribution Account.
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Defined Benefit Account means the account established on the Company’s financial ledgers on behalf of a Participant to which the amount described in Section 4.2 shall be credited.
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Examples of Defined Benefit Account in a sentence

  • The Company shall direct the investment of the Defined Benefit Account and the Members with Money Purchase Accounts shall direct the investment of their Money Purchase Accounts in the investment options made available under the terms of the Funding Agreement.

  • Such portion of the Defined Benefit Account shall be applied in accordance with the provisions of Section 17.03 for the benefit of the Members, Spouses and Beneficiaries affected by the partial termination.

  • Any surplus assets which remain in the Defined Benefit Account after the satisfaction of all accrued defined benefits as set out above shall be returned to the Company.

  • If the assets of the Defined Benefit Account are insufficient to fully provide for all accrued Defined Benefit Pensions and Banff Lifts Pensions attributable thereto and a solvency deficiency, as defined under the terms of the Act, exists when the Plan is terminated, the Company shall amortize such solvency deficiency in accordance with the Act.

  • If the assets of the Defined Benefit Account allocated to the partial windup are insufficient to fully provide for all accrued Defined Benefit Pensions and Banff Lifts Pensions of Members affected by the partial windup and a solvency deficiency, as defined under the terms of the Act, exists in respect of the partial termination, the Company shall amortize such solvency deficiency in accordance with the Act.

  • If due to insolvency the Company is unable contribute all amounts required under the Act then the assets of the Defined Benefit Account allocated to the partial windup shall be applied to provide benefits for affected Members, Spouses, and Beneficiaries on a pro rata basis in accordance with their respective interest in the Plan as determined by the Company, on the advice of the Actuary and in a manner approved by the Alberta Superintendent of Pensions.

  • If due to insolvency the Company is unable contribute all amounts required under the Act, then the assets of the Defined Benefit Account shall be applied to provide benefits for affected Members, Spouses, and Beneficiaries on a pro rata basis in accordance with their respective interest in the Plan as determined by the Company, on the advice of the Actuary and in a manner approved by the Alberta Superintendent of Pensions.

  • The Money Purchase Accounts of Members affected by the partial termination shall be allocated to the partial termination and transferred to the Defined Benefit Account to eliminate the Money Purchase Pension offset pursuant to Section 5.03 or transferred out of the Pension Fund pursuant to Section 6.05 or 7.05, as elected by the Member.

  • The Money Purchase Account of a Member affected by the termination shall be transferred to the Defined Benefit Account to eliminate the Money Purchase Pension offset pursuant to Section 5.03 or transferred out of the Pension Fund pursuant to Section 6.05 or 7.05, as elected by the Member.

  • The portion of the Defined Benefit Account to be allocated shall be determined by the Company in an equitable manner on the advice of the Actuary subject to the Act.

Related to Defined Benefit Account

  • Defined Benefit Plan means either a plan described in Section 3(35) of ERISA or a plan subject to the minimum funding standards set forth in Section 302 of ERISA and Section 412 of the Code.

  • Defined Benefit Plan Fraction means a fraction, the numerator of which is the projected annual benefit (determined as of the close of the relevant Plan Year) of the Participant under all Defined Benefit Plans maintained by one or more Related Companies, and the denominator of which is the lesser of (i) the product of 1.25 multiplied by the dollar limitation in effect under Section 415(b)(1)(A) of the Code for the Plan Year, or (ii) the product of 1.4 multiplied by the amount which may be taken into account under Section 415(b)(1)(B) of the Code with respect to the Participant for the Plan Year.

  • Defined Benefit Fraction means a fraction, the numerator of which is the sum of a Participant’s Projected Annual Benefits under all the qualified defined benefit plans (whether or not terminated) maintained by the Employer determined at the end of the Limitation Year, and the denominator of which is the lesser of 125% of the dollar limitation determined for the Limitation Year under Sections 415(b) and (d) of the Code or 140% of the highest average Limitation Compensation, including any adjustments under Section 415(b) of the Code. Notwithstanding the above, if the Participant was a Participant as of the first day of the first Limitation Year beginning after December 31, 1986, in one or more defined benefit plans maintained by the Employer which were in existence on May 6, 1986, the denominator of this fraction will not be less than 125% of the sum of the annual benefits under such plans which the Participant had accrued as of the close of the last Limitation Year beginning before January 1, 1987, disregarding any changes in the terms and conditions of the Plan after May 5, 1986. The preceding sentence applies only if the defined benefit plans individually and in the aggregate satisfied the requirements of Section 415 of the Code for all Limitation Years beginning before January 1, 1987.

  • Canadian Defined Benefit Pension Plan means a Canadian Pension Plan that contains or has ever contained a “defined benefit provision” as such term is defined in Section 147.1(1) of the Income Tax Act (Canada).

  • Retirement Account means any retirement or pension fund or account, listed in Iowa Code section 627.6(8)“f” as exempt from execution, regardless of the amount of contribution, the interest generated, or the total amount in the fund or account.

  • Individual retirement account means an individual retirement account under Section 408 of the Code, a Roth IRA under Section 408A of the Code, a simplified employee pension under Section 408(k) of the Code or a simple retirement account for employees under Section 408(p) of the Code.

  • Canadian Defined Benefit Plan means any Canadian Pension Plan which contains a “defined benefit provision” as defined in subsection 147.1(1) of the Income Tax Act (Canada).

  • Retirement Accounts has the meaning ascribed thereto in Section 2.1(F)(7) hereof.

  • Deferred Compensation Account means the account maintained with respect to each Participant under the Plan. The Deferred Compensation Account shall be credited with Participant Deferral Credits and Employer Credits, credited or debited for deemed investment gains or losses, and adjusted for payments in accordance with the rules and elections in effect under Section 8. The Deferred Compensation Account of a Participant shall include any In-Service or Education Account of the Participant, if applicable.

  • Designated Retirement Account means any retirement plan or account described or qualified under the Internal Revenue Code of 1986, as amended, or a subaccount thereof.

  • Company Contribution Account means (i) the sum of the Participant’s Company Contribution Amounts, plus (ii) amounts credited or debited to the Participant’s Company Contribution Account in accordance with this Plan, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant’s Company Contribution Account.

  • Company Matching Account means (i) the sum of all of a Participant's Annual Company Matching Amounts, plus (ii) amounts credited in accordance with all the applicable crediting provisions of this Plan that relate to the Participant's Company Matching Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant's Company Matching Account.

  • Matching Contribution Account means that portion of a Participant’s Account established to record Matching Contributions on behalf of a Participant. Matching Contributions shall be deemed to be invested in the Company stock, and a Participant shall not be permitted to elect a different Deemed Crediting Option for such Matching Contributions.

  • Matching Account means the account maintained on the books of the Employer for the purpose of accounting for the Matching Amount and for the amount of investment return credited thereto for each Participant pursuant to Article V.

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Employee Account means any brokerage account or unit investment trust account in which the Van Kampen Employee has any direct or indirect beneficial ownership.

  • ESOP Account means a Participant’s account to which are credited Matching Contributions made to the Plan after March 31, 1989, and earnings and losses thereon.

  • Non-U.S. Benefit Plan has the meaning set forth in Section 3.20(a).

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Deferred Retirement Date means, in the case of any Participant who continues in employment after his Normal Retirement Date, the first day of any month following his actual retirement.

  • Deferral Account means the Company's accounting of the Director's accumulated Deferrals plus accrued interest.

  • Company Matching Contributions means any contributions made to the Company Matching Account of a Participant by a Participating Employer as provided for in Section 4.02.

  • Individual Account Means the account established and maintained under this Plan for each Participant in accordance with Section 4.01.

  • Qualified Benefit Plan has the meaning set forth in Section 3.20(c).

  • Retirement fund means the "Washington law enforcement

  • Contribution Account means an account, or accounts, into which the Accountholder and employer contributions are deposited by the TPA, and from which HSA dollars are swept into the Cash Account.

Most Referenced Clauses

Most Referenced Definitions